A more thorough explanation:

Price discrimination is when a company charges different prices to different customers for the same product or service. This means that some customers may pay more or less than others for the same thing.

For example, a movie theater may charge seniors a lower price for tickets than they charge younger adults. Or, a store may offer discounts to customers who have a membership card.

Price discrimination is not always illegal, but it can be if it is done with the intention of harming competitors. The Sherman Antitrust Act, Clayton Antitrust Act, and Robinson-Patman Act are laws that prohibit price discrimination when it is used to hurt other businesses.

Overall, price discrimination can be a way for companies to increase profits by charging different prices to different customers based on their willingness to pay. However, it can also be seen as unfair to customers who are charged more for the same product or service.